The currency of Barbados. Currency code (BBD).

The Barbados Dollar (BBD) has been the currency of Barbados since 1935. The symbol used for the dollar is the same as the US Dollar ($). However, BDs$ is used to distinguish the BBD from other dollar currencies. The Barbados Dollar is subdivided into 100 cents.

Economy

  • The primary industries in the economy are tourism and offshore investments.
  • Other income is from sugar and light manufacturing.
  • The Barbados economy is service-driven, as well as an international business center.
  • The average growth rate for the Barbados economy ranges from 3.5% to 5%.
  • No substantial exports come from Barbados, and the country relies mainly on imports.
  • Barbados focuses on developing the service sector, from financial services to educational and health benefits.
  • Agriculture is mainly sugar cane farming. The main food crops are corn, sweet potatoes, eddos, yams, and cassava.
  • Construction is a secondary industry and is mainly due to tourism and residential growth.

History

  • Barbados formed part of the British Caribbean territories. Barbados adopted the British Pound Sterling in 1848.
  • After the Pound was adopted, the last silver pieces circulated, especially in the private sector.
  • The first dollar form of banknotes was issued in 1882.
  • In 1949, the British West Indies dollar was introduced, and Barbados was officially tied in with the British Eastern Caribbean islands.
  • In 1965, Barbados replaced the British West Indies Dollar with the Eastern Caribbean Dollar.
  • In 1972, the present Dollar was introduced by the Central Bank of Barbados.
  • Since 1975, the Barbados Dollar has been pegged to the United States Dollar at 2BDs$ = 1 USD.